Luton Rising, the company that owns the airport, said it could generate 1.5 billion dollars a year and create thousands of new jobs.
A council spokesman said the airport was one of the largest employers in the region, contributing hugely to the region's economic vibrancy on an annual basis, while increasing in value as an asset in its own right through successive tranches of investment. He believes that it will provide an additional 14 m each year for communities in Luton and the surrounding areas.
For every additional passenger above the airport's current capacity, it will be able to invest an extra 1 into local communities, helping to tackle deprivation. Andrew Lambourne, a spokesman for local protest group Luton and District Association for the Control of Aircraft Noise (LADACAN) said it was tragic that the councillors who run Luton Rising seem to have lost sight of the need for prudence.
As for the wider area, this proposal would create noise blight across North Hertfordshire, with flights increasingly starting at five in the morning and running into the early hours, keeping thousands of people awake at night.
The Planning Inspectorate will have a 28 day period after submission of the airport expansion application to the Planning Inspectorate, on behalf of the transport secretary, to decide whether or not the application meets the standards required to be accepted for examination, or if further documentation is needed.